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Barclays cut its price target on Tesla. Turrin's $480 price target suggests Microsoft shares, which are up more than 10% this year, could add another 15.8% over the next 12 months. Nardone kept his $150 price target, which implies Crocs shares could gain 24.3% over the next 12 months. Tesla shares, which have lost more than 36% this year, traded 1.3% higher in premarket trading. Redburn Atlantic also cut its price target to $130 from $150, reiterating its sell rating on the stock.

Persons: Raymond James, Wells, Michael Turrin, Turrin, — Pia Singh, Crocs, Christopher Nardone, Terence Reilly, Nardone, Stanley, Ben Chaiken, Chaiken, Jefferies, Corey Tarlowe, Tarlowe, Tesla's, Dan Levy, Levy, Tesla, Pavel Molchanov, Vernova, Molchanov, Fred Imbert Organizations: CNBC, Wednesday's, Barclays, GE, Microsoft, Bank of America Bank of America, Royal, Mizuho Securities Mizuho, Royal Beach Club, Urban, Jefferies, Urban Outfitters, Abercrombie, General Electric, GE Vernova Locations: Wells Fargo, Heydude, Royal Caribbean, Tuesday's

☆ Cities Face Cutbacks as Commercial Real Estate Prices Tumble
▼ + stars: | 2024-03-14 | by ( Alan Rappeport | ) www.nytimes.com time to read: +1 min

In San Francisco, a 20-story office tower that sold for $146 million a decade ago was listed in December for just $80 million. And in Washington, a 12-story building that mixes office and retail space three blocks from the White House that sold for $100 million in 2018 recently went for just $36 million. Such steep discounts have become normal for office space across the United States as the pandemic trends of hybrid and remote work have persisted, hollowing out urban centers that were once bustling with workers. But the losses are hitting more than just commercial real estate investors. Cities are also starting to bear the brunt, as municipal budgets that rely on taxes associated with valuable commercial property are now facing shortfalls and contemplating cutbacks as lower assessments of property values reduce tax bills.

Organizations: House Locations: San Francisco, Chicago, Washington, United States

☆ How a Designer of Upcycled Fashion Spends Her Sundays
▼ + stars: | 2024-01-20 | by ( Kaya Laterman | ) www.nytimes.com time to read: 1 min

For many years, Rebecca Chamberlain designed clothes for famous brands, mostly to make ends meet. During the coronavirus pandemic, she started doing it for herself — by turning old garments into modern, sophisticated pieces. “When I was ghost-designing for mainstream clothing companies, it felt like we were always racing — towards what, a markdown?” said Ms. Chamberlain, 53, adding that she disliked the amount of waste the fashion world created. In 2020, Ms. Chamberlain said, she felt at peace back at the sewing machine as she “frantically” made hundreds of masks for a nearby hospital from her upstate home in Andes, N.Y. While many people found comfort in sweatpants, Chamberlain found herself hunting for old military gear, quilts, jeans and men’s shirts.

Persons: Rebecca Chamberlain, ”, Chamberlain, “ Locations: Andes, N.Y, sweatpants

REUTERS/Brendan McDermid Acquire Licensing RightsNEW YORK, Nov 13 (Reuters) - Shares of financial services firm B. Riley (RILY.O) plummeted nearly 35% on Monday, extending losses for the fourth consecutive session, after it disclosed unrealized investment losses and S&P Global Ratings downgraded a key asset. That markdown resulted in B. Riley reporting a net loss of $75.8 million in the third quarter, compared with a profit of $45.8 million a year earlier. "We do not believe that the recent movement in our share price is warranted based on the fundamental strength and performance of our diversified platform," a B. Riley spokesperson said in a statement. B. Riley has also been targeted by a short seller. "Although B Riley attempted to address short seller concerns on their recent earnings call, the information they provided was limited," said Rick Meckler, partner at Cherry Lane Investments.

Persons: Brendan McDermid, Riley, Brian Kahn, Kahn, John Hughes, Bryant Riley, Rick Meckler, Meckler, Chibuike Oguh, Medha Singh, Niket, Deepa Babington, Stephen Coates Organizations: New York Stock Exchange, REUTERS, Reuters Graphics, Group's, Bloomberg, Reuters, Wolfpack Research, Cherry Lane Investments, Thomson Locations: New York City, U.S, Los Angeles, New York

☆ Make these 6 moves now to capitalize on one of the best long-term investing outlooks in over a decade, according to JPMorgan's $2.9 trillion asset management arm
▼ + stars: | 2023-10-19 | by ( James Faris | ) www.businessinsider.com time to read: +8 min

Investors shouldn't be scared off by slower economic growth caused by higher-for-longer interest rates and inflation, according to JPMorgan Asset Management (JPMAM). For reference, JPMAM called for forward long-term returns of 4.3% in 2021. The firm added that productivity gains from AI will likely add a tenth of a percentage point to global growth in the next decade. The long-awaited reversal for international stocks won't happen overnight, JPMAM strategists said. The firm is highly optimistic about the asset class after its brutal multi-year selloff and expects 4.6% and 5.1% long-term returns for those groups, respectively.

Persons: it's, JPMAM, David Kelly, Kelly, Monica Issar, Grace Koo, —, they're, Bob Michele, who's, he's, Bonds, REITs Organizations: Asset Management, Federal Reserve, European Central Bank, US, JPMorgan, Management, Fed, JPMorgan Asset Management, Investors Locations: Europe, Australasia, Real

While we've been sharing the very best Prime Day deals throughout the sale, there are some great finds our editors recommend snagging right now. William Antonelli, tech reporterAmazonI'm taking this Prime Day to upgrade some of the old gadgets I've got in my house. I go through many shoes when training for marathons, and Prime Day is when I pick up a new pair or two. Last Prime Day, I purchased the Asics Men's Gel-Nimbus 24 Running Shoes. These Prime Day deals most certainly took a bite out of my wallet, but at a fraction of the price you'd normally pay for these items.

Persons: we've, they've, Lauren Savoie, Sephora, I'm, I've, William Antonelli, James Brains, Jaclyn Turner, who's, Keepa, it's, Lisa Sabatini, It's, I'd, Sarah Saril, Amazon Organizations: Amazon, Logitech, Philips, Machine, Prime

☆ Nike misses on revenue for first time in two years, but stock pops as earnings, margins beat
▼ + stars: | 2023-09-28 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +9 min

Nike reported revenue Thursday that fell short of Wall Street's sales expectations for the first time in two years, but it beat on earnings and gross margin estimates, sending its stock soaring in after-hours trading. Revenue for the quarter was just shy of the $12.98 billion analysts had expected, according to LSEG. For the second quarter, Nike expects revenue growth to be up slightly versus the prior year and gross margins to grow by about 1 percentage point versus the prior year. During the previous quarter ended May 31, Nike saw China sales jump 16% compared to the year-ago period. Analysts had expected sales to be about $660 million, according to StreetAccount.

Persons: Matthew Friend, They're, John Donahoe, he's, Friend, Jefferies, doesn't bode, It's Organizations: Nike, LSEG, Revenue, Investors, Reuters, Asia Pacific, Converse, Sporting Goods, Footlocker Locations: China, North America, Europe, East, Africa, America, Asia

Next week could be a tough one for some companies slated to report earnings. Heading into the new week, however, there are some companies analysts have become more pessimistic on and have cut estimates ahead of their reports. The cosmetics giant is slated to report earnings Aug. 18. Both companies have noted a more cautious consumer due to sticky inflation in past earnings reports. Analysts polled by FactSet forecast adjusted earnings per share of $4.46 for Home Depot and $1.69 for Walmart.

Persons: Estée Lauder, markdown, Lauder YTD Estée Lauder, FactSet Organizations: Walmart, Target, Disney, CNBC, Depot

☆ TJ Maxx's and Marshalls' comparison prices aren't always what they seem
▼ + stars: | 2023-07-17 | by ( Jennifer Ortakales Dawkins | ) www.businessinsider.com time to read: +3 min

Off-price retailers TJ Maxx and Marshalls buy surplus inventory from department stores at discounted rates. Comparison prices convince shoppers that they are getting a good deal. Every product in TJ Maxx, whether it's a t-shirt or candle, has a recognizable tag attached. Paul Morigi/GettyThese comparison prices reinforce shoppers' confidence in their buying decisions, marketing professor Alexander Chernev told the Wall Street Journal in a recent video explaining TJ Maxx's strategy. In 2015 and 2018, two class-action lawsuits accused TJX of misleading customers with its comparison prices.

Persons: TJ Maxx, TJX, TJ, Paul Morigi, Alexander Chernev, It's, I'm Organizations: TJ Maxx, Marshalls, Service, TJX Companies, TJ, Wall Street, ABC Locations: Wall, Silicon, California, Florida

☆ Twitter's valuation has been slashed by 47% at Ark Invest since Elon Musk took over
▼ + stars: | 2023-07-17 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

Ark Invest has marked down its Twitter valuation by 47% since it was taken over by Elon Musk, the Wall Street Journal reported. Musk had recently tweeted that Twitter's advertising revenue has been cut in half since he took over the company. Given Musk purchased Twitter for $44 billion late last year, the markdown would put the company's current valuation at about $23 billion, based on Ark's estimate. "We're still negative cash flow, due to ~50% drop in advertising revenue plus heavy debt load," Musk said of Twitter on Twitter. We also think that longer term, Elon and team are very serious that they're going to turn this into an everything app," Wood said.

Persons: Elon Musk, Musk, Cathie Wood, Wood, Elon Organizations: Elon, Wall Street Journal, Service, Wall Street, Invest's Venture, Twitter, Fidelity, Ark, Nvidia, Nasdaq Locations: Wall, Silicon

In one of the best Prime Day deals, the 13-inch version of the 2020 MacBook Air remains available for $749.99 at Amazon — an all-time low price and a $250 discount. We once named the 2020 MacBook Air one of the best laptops you can buy, and it's an unbeatable deal with this significant Prime Day markdown. But this deal will only last a few more hours, as Prime Day exclusives end tonight. Apple still sells the M1 MacBook Air in a new condition alongside the newer MacBook Air models that run on the more powerful M2 chip, which is a testament to the M1 MacBook Air's sustained power as a notebook, nearly three years after its release. At $250 off the laptop's $1,000 list price, an all-time low price point for this model, Amazon's Prime Day deal on the 13-inch M1 MacBook Air is an exceptional value for an older laptop that will provide years of use.

Organizations: Amazon, Intel, Apple

Organizations: Amazon, Intel, Apple

Amazon Prime Day 2023 ends tonight, and there are many deals remaining on Samsung products, including hard drives and memory cards. For more discounts on a variety of other products, check out our best Prime Day deals live blog. Top 3 Samsung hard drive and memory card Prime Day dealsBest Samsung SSD Prime Day dealsDeal icon An icon in the shape of a lightning bolt. $27.99 from Amazon Originally $74.99 Save 63%Best Samsung portable and external hard drive Prime Day dealsDeal icon An icon in the shape of a lightning bolt. $199.99 from Amazon Originally $429.99 Save 53%Best Samsung memory card Prime Day dealsDeal icon An icon in the shape of a lightning bolt.

Persons: It's, we've, it's Organizations: Amazon, Samsung, PlayStation, Price Samsung, PRO, Nintendo

Amazon Prime Day 2023 is entering its final hours, but there are a few deals that are in danger of selling out before the annual shopping event comes to a close. Popular products from well-known brands like Apple and Vitamix hit some of their lowest prices of the year during Prime Day, and Amazon's limited-time lightning deals help drive up demand, causing dozens of products to sell out. We'll continue to provide live coverage of the final Amazon Prime Day deals through midnight PT on July 12. Along with the list of potential sell-out deals below, we've collected the Best Prime Day deals on TVs, headphones, mattresses, and gift cards. Top 5 Prime Day deals in danger of selling outMore Prime Day deals that might sell outDeal icon An icon in the shape of a lightning bolt.

Persons: We've, we've, We'll, Price, AirPods, Anker Organizations: Amazon, Apple, Amazon Prime, Price Apple

In one of the best Prime Day deals, the 13-inch version of the 2020 MacBook Air is available for $749.99 at Amazon — an all-time low price and a $250 discount. We once named the 2020 MacBook Air one of the best laptops you can buy, and it's an unbeatable deal with this significant Prime Day markdown. The battery life on the M1-powered MacBook Air is impressive to this day, offering around 18 hours of total usage — the same battery life offered by the current MacBook Air model that runs on the newer M2 chip. Apple still sells the M1 MacBook Air in a new condition alongside the newer MacBook Air models that run on the more powerful M2 chip, which is a testament to the M1 MacBook Air's sustained power as a notebook, nearly three years after its release. At $250 off the laptop's $1,000 list price, an all-time low price point for this model, Amazon's Prime Day deal on the 13-inch M1 MacBook Air is an exceptional value for an older laptop that will provide years of use.

Organizations: Amazon, Intel, Apple

So what's hot in fintech right now? One area fintech companies are getting excited by is an improvement to online checkout tools. Callan Carvey, global head of operations at Cleo, said the firm's AI connects to a customer's bank account to get a better understanding of their financial behavior. "A job that typically would take around one or two weeks can now be completed in 30 minutes, right. Several fintech executives CNBC interviewed spoke of how they're not interested in launching products tailored to crypto as the demand from their customers isn't there.

Persons: MacKenzie Sigalos, hasn't, they've, Starling, Richard Davies, Davies, Niklas Guske, —, B2C fintechs, David Singleton, Guske, dazzled, Cleo, Callan Carvey, Carvey, Teo Blidarus, Taktile's, Hiroki Takeuchi, Takeuchi, Changpeng Zhao, they're, Jack Zhang, Zhang, Prajit Nanu, cryptocurrencies, Banks, Nanu Organizations: Bank, fintechs, CNBC, Business, Allica Bank, B2B, Tiger, Schroders Capital, Atom Bank, Schroders, U.S . Securities, Exchange Commission, SEC, U.S, cryptocurrencies Locations: Amsterdam, MacKenzie Sigalos AMSTERDAM, Netherlands, British, Atomico, U.S

☆ UBS’s state aid is a disaster insurance policy
▼ + stars: | 2023-06-09 | by ( ) www.reuters.com time to read: +2 min

LONDON, June 9 (Reuters Breakingviews) - Sergio Ermotti has a taxpayer safety net, but it only kicks in if things get really bad. The state will eat 9 billion Swiss francs ($10 billion) of losses on certain assets once UBS has swallowed an initial 5 billion Swiss francs. The actual contract, despite being 94 pages long, is missing the most important number: how many assets are covered by the agreement. UBS in mid-May said it would write down the value of Credit Suisse’s assets by $10 billion. To breach its initial loss threshold, the assets would have to fall 11% below their already discounted value.

Persons: Sergio Ermotti, Liam Proud, Xavier Niel, George Hay, Oliver Taslic Organizations: Reuters, UBS, Credit Suisse, Finance, Suisse’s, Twitter, Toyota, Thomson

☆ Twitter may be worth only a third of its pre-Musk value, Fidelity says
▼ + stars: | 2023-05-31 | by ( Brian Fung | ) edition.cnn.com time to read: +1 min

Washington CNN —A Fidelity fund has slashed its estimate of Twitter’s value amid ongoing chaos at the company, implying the social media platform may be worth only a third of its value compared to when Elon Musk acquired it in October. According to a monthly disclosure, Fidelity’s Blue Chip Growth Fund reported that its stake in Twitter was worth $6.55 million at the end of April. That’s down from the $19.66 million the Fidelity fund said its stake was worth in October as Musk was finalizing the acquisition. The revision implies Twitter may be worth only $15 billion overall, as opposed to Musk’s $44 billion purchase price. Fidelity has repeatedly marked down Twitter’s value.

Persons: Elon Musk, That’s, Musk, Linda Yaccarino, – CNN’s Matt Egan Organizations: Washington CNN, Elon, Growth Fund, Twitter, Fidelity, Reuters, Bloomberg

☆ Facebook-Giphy sale shows how fear of regulators is slowing M&A market
▼ + stars: | 2023-05-26 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

Instagram chief Adam Mosseri touted Giphy's "amazing team" and "expressive" userbase, and stressed Giphy's user data was "not the motivation." The sale was forced by the U.K.'s antitrust regulator, which ruled Meta's acquisition posed a risk to the social media and advertising markets. Jonathan Kanter, who helms the Department of Justice's Antitrust Unit, and Lina Khan, the Federal Trade Commission's chair, have been given wide latitude by President Joe Biden to pursue potentially anticompetitive behavior. Prior to his DOJ posting, Kanter worked in private practice, advising directors and executives on potential deals and attendant regulatory pitfalls. Van Grack, the former chief of the DOJ's Foreign Agent Registration Act unit, noted regulatory scrutiny was increasing for years prior to the current administration.

☆ Here’s why retailers are beating earnings estimates, even with lackluster sales
▼ + stars: | 2023-05-24 | by ( Robert Hum | ) www.cnbc.com time to read: +3 min

Here's the big key from retailers this earnings season: Margins are holding up and that's driving earnings beats even amid more tepid sales trends. That's all led to a rather lackluster round of retail sales this earnings season. Retailers have avoided heavy discounting We haven't seen many mentions this season of retailers resorting to steep markdowns despite more tepid shopping trends. Lower freight and shipping costs Another major pandemic cost driver was elevated transportation costs for retailers. Abercrombie & Fitch saw gross margin improvement "primarily driven by a benefit of 760 basis points from lower freight costs ."

Persons: Kohl's, Abercrombie, Fitch, TJX, Ralph Lauren, Lululemon, Michael Kors Organizations: Abercrombie, Fitch, Retailers, Urban, Anthropologie, Free People Group, Urban Outfitters, Walmart, Body, Nordstrom, Dollar Locations: Kohl's, Costco

☆ Wayfair’s Way Day Sale: What to Buy, According to Expert Shoppers
▼ + stars: | 2023-04-26 | by ( ) www.wsj.com time to read: +7 min

By Buy Side StaffWayfair’s Way Day Sale is happening now, which means tons of furniture, decor, cookware and more home essentials are deeply discounted. All-Season ComforterIf you’re ready to upgrade your comforter, these two are part of the Way Day sale. Right now the light grey color is down to $700, well below the $1,250 price we’ve tracked in the past. And during Way Day the white version is marked down to $124, nearly 40% less than it was during Wayfair’s last big sale. Large, understated mirrorA strategically placed mirror is a great way to make your space feel larger, and this Ivy Bronx model is a great way to do so without drawing attention to the mirror itself thanks to the simple frame.

☆ Turkey's Getir sees valuation almost halved with new funding - report
▼ + stars: | 2023-04-19 | by ( ) www.reuters.com time to read: +1 min

April 19 (Reuters) - Turkish delivery company Getir has raised about $500 million in a deal that cuts its valuation almost in half, news website Insider reported on Wednesday citing industry sources. The company has raised $300 million from Abu Dhabi state fund Mubadala at a valuation of around $6.5 billion, according to the report. Another $150 million to $200 million were added by other existing shareholders, the report added. In March last year, Getir closed a $768 million funding round led by Mubadala that valued the company at around $12 billion. It could have been valued even lower but the deal came with a high liquidation preference, the report said.

☆ Grocery app Getir, once worth $11.8 billion, sees valuation almost halved with new funding, sources say
▼ + stars: | 2023-04-19 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +3 min

Getir, one of the biggest remaining grocery apps, has raised $500 million, per sources. But its valuation has been almost halved to around $6.5 billion, from $11.8 billion. Other existing shareholders added another $150 million to $200 million to the round, two further sources said. The deal is a 45% markdown on the $11.8 billion price tag that was placed on Getir during its last fundraise in March 2022. Getir could have been valued even lower but the deal came with a high liquidation preference, the sources added.

☆ IMF chief economist: stability risks should not deter central bank inflation fight
▼ + stars: | 2023-04-11 | by ( ) www.reuters.com time to read: +4 min

WASHINGTON, April 11 (Reuters) - Central banks should not halt their fight against inflation because of financial stability risks, which look "very much contained," International Monetary Fund chief economist Pierre-Olivier Gourinchas told Reuters. Gourinchas said most large central banks, including the Federal Reserve, the European Central Bank and the Bank of England, are already near the peak of their rate hike cycles. SEPARATE TRACKSInstead, authorities should contain stability risks with tools used after the failures of Silicon Valley Bank and Signature Bank, such as central bank lending facilities and other backstops, which would free up monetary policy to stay focused on bringing inflation down. "And in my sense, if they're expecting that because they think the Fed or central banks should take into consideration financial stability arguments...we're not there," Gourinchas said. This could lead to an adjustment of yields on longer-term securities upwards as market expectations become more "realigned with what the central banks are communicating."

☆ 5 must-see charts that show why the economy is barreling toward disaster — putting stocks at risk for massive declines
▼ + stars: | 2023-04-01 | by ( William Edwards | ) www.businessinsider.com time to read: +7 min

Reducing inflation is likely to require a period of below-trend growth and some softening in labor market conditions," Powell said. "Restoring price stability is essential to set the stage for achieving maximum employment and stable prices over the longer run." A large enough pullback in lending will send the economy into a downward spiral, he said. "If you get a credit crunch, you could have an immediate downturn in the economy, a very quick downturn," he said. Credit spreads are the gap between high-risk bond yields and yields on risk-free bonds.

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